Sydney, Mar 15, 2017 AEST (ABN Newswire) - Argent Minerals Limited (ASX:ARD) (Argent, or the Company) is pleased to report exploration results for the completed eight hole diamond drilling programme (AKDD193 to ADKK200) at Kempfield, NSW.

This report provides the balance of the assay results submitted to date for the program, being for holes AKDD193, 194, 196 and 200.

Highlights:

- Significant silver, lead and zinc intersected at the Henry Zone: five separate mineralised intervals (total combined length 45.9 metres) intersected by hole AKDD200, incl.:

16.0 m @ 0.6% Pb, 1.8% Zn, 83 g/t Ag, 0.1 g/t Au from 205.0 m:

incl. 7.6 m @ 1.2% Pb, 3.4% Zn, 126 g/t Ag, 0.2 g/t Au, from 212.4 m;

incl. 1.0 m @ 2.2% Pb, 8.3% Zn, 250 g/t Ag, 0.2 g/t Au from 213.4 m.

- Potential 1,000 metre northeast strike extension identified - likely mineralisation continuity identified from Kempfield North to the Henry Zone.

- The discovery of extensions to mineralisation in the southeast and potential additional 800 metre strike extension to the south - further supported by the intersection of D Horizon mineralisation by hole AKDD196.

- High grade mineralisation potential in Kempfield West and to the south.

AKDD200 INTERSECTS SIGNIFICANT SILVER LEAD AND ZINC AT THE HENRY ZONE

Hole AKDD200 intersected several relatively wide intervals of silver lead and zinc mineralisation including high grades from 2 metres to 221 metres, significantly extending known mineralisation at depth, and implying significant strike extension implications for the Kempfield deposit.

The returned results identified five separate mineralised intervals with a total combined downhole length of 45.9 metres (true width 36.8 metres). These are summarised together with selected intersections highlighted as follows:

- 6.0 m @ 1.0% Pb, 0.1% Zn, 22 g/t Ag and 0.0% Au from 2.0 m;

- 10.0 m @ 0.1% Pb, 2.8% Zn and 2.0 g/t Ag from 32.0 m
including: 1.0 m @ 0.2% Pb, 7.6% Zn and 4.0 g/t Ag from 33.0 m;
and: 1.0 m @ 0.1% Pb, 5.6% Zn and 2.0 g/t Ag from 34.0 m;

- 5.0 m @ 0.3% Pb, 0.8% Zn and 2.0 g/t Ag from 161.0 m;

- 8.9 m @ 0.6% Pb, 1.8% Zn and 46 g/t Ag from 193.2 m;
including: 2.0 m @ 0.5% Pb, 2.2% Zn and 96 g/t Ag from 198.9 m;

- 16 m @ 0.6% Pb, 1.8% Zn, 83 g/t Ag and 0.1 g/t Au from 205.0 m
including: 7.6 m @ 1.2% Pb, 3.4% Zn, 126 g/t Ag and 0.2 g/t Au from 212.4 m;
including: 1.0 m @ 2.2% Pb, 8.3% Zn, 250 g/t Ag and 0.2 g/t Au from 213.4 m.

Figure 2 (see the link below)provides a section view of AKDD200 illustrating the reportable significant AKDD200 intersections in the context of the intersected host horizons C and D.

About hole AKDD200

AKDD200 was drilled to test the potential depth extensions to the Henry Zone located 1,000 metres along strike to the northeast of the main Kempfield deposit at the site of the historic barite mine operated by the Henry brothers.

Previously referred to as the Quarries Zone, the Henry Zone portion of the Kempfield deposit is included in the Kempfield JORC 2012 mineral resource estimate, which was based on historical drilling in the area to a depth of approximately 80 metres.

AKDD200 was drilled to a total length of 236.6 metres through the main volcaniclastic conglomerate sequences hosting the C and D Horizons. The drillhole was collared in the mid-section of the C Horizon and continued through the overlying greywacke sequence, which has progressively developed into calcareous silts and sands to the north.

Following some intermittent footwall mineralisation observed from 193 metres, the drillhole intersected the main volcaniclastic conglomerate sequence hosting D Horizon from 207 metres.

The geology of the Henry Zone appears to have undergone a significant sinistral (strike-slip) dislocation similar in magnitude to the offset seen in Central Kempfield. Further interpretive work is continuing.

Initial samples were selected from 2.0 to 221.0 metres and submitted for assay.

Subject to further analysis of the drillhole database for the Henry Zone, the intersected mineralisation remains open at depth down dip at an angle of approximately -70deg to the west, as well as up dip towards the surface, representing the potential for significant additional resource tonnage.

About the potential strike extension implications of hole AKDD200 results

The strike offset in the Henry Zone has provided some excellent information for finalising the geological model at Kempfield. Initially, the Henry Zone appeared as a distinctly separate exhalative system at a different stratigraphic level. Recent drilling has shown that although the Henry Zone does appear to be a separate exhalative centre, it occurs at the same stratigraphic level as Kempfield North and has been dislocated by faulting.

This implies that the Henry Zone is likely to be a continuation of the main Kempfield deposit, with the direct result that the poorly drilled area between Kempfield North and the Henry Zone has become highly prospective for extensions of mineralisation.

The distance along strike from the northern extent of Zones 1 and 2 of the Kempfield JORC 2012 Mineral Resource to hole AKDD200 is approximately 1,000 metres.

NORTHERN MINERALISATION EXTENSIONS - FURTHER SUPPORTED BY AKDD193/194

About hole AKDD194

AKDD194 successfully tested a potential extension of C Horizon Kempfield North along strike to the northeast toward the Henry Zone.

Initial samples were selected from 5.0 to 262.7 metres at various intervals and submitted for assay. The returned results identified ten separate mineralised intervals with a total downhole length of 23.1 metres (true width 19.1 metres). Selected intersections are noted together with highlights as follows:

- 0.6 m @ 0.5% Pb, 1.9% Zn, 14 g/t Ag and 0.1 Au from 144.2 m;

- 0.8 m @ 0.1% Zn, 1 g/t Ag and 0.4 g/t Au from 179.2 m;

- 2.1 m @ 0.6% Pb, 2.0% Zn, 6 g/t Ag and 0.1 g/t Au from 180.0 m;

- 1.0 m @ 0.4 g/t Au from 186.1 m;

- 2.0 m @ 0.8 g/t Ag from 190.8 m;

- 1.6 m @ 0.2% Pb, 1.8% Zn, 6 g/t Ag and 0.1 g/t Au from 220.3 m;

- 12.1 m @ 0.3% Pb, 0.8% Zn, 4 g/t Ag and 0.1 g/t Au from 226.3 m.

The intersection of C Horizon mineralisation by hole AKDD194 indicates a potential strike extension of approximately 120 metres along strike to the northeast of the northern extent of the existing JORC 2012 mineral resource estimate (see Figure 4 in the link below). The intersected mineralisation remains open at depth down dip at an angle of approximately -70deg to the west, as well as up dip towards the surface, representing the potential for significant additional resource tonnage.

About hole AKDD193

AKDD193 showed a significant thickening of the mass flow epiclastic sequence. The drillhole was positioned to test the location of the B Horizon at a depth of approximately 60 metres and resulted in collaring directly into the epiclastic sequence, and missing the B Horizon. This valuable information will be employed to update the sparse historical drilling database for this western part of Kempfield, and in turn refine the Kempfield geological model for improved future drill targeting.

The potential remains for the extension of the A and B Horizons into the northwest region of the Kempfield deposit, and discovery of a new lens in AKDD197 shows that the distal footwall of the main Kempfield deposit holds significant potential.

SOUTHERN MINERALISATION EXTENSIONS - FURTHER SUPPORTED BY AKDD196

The primary objective of this AKDD196, and AKDD195, was to test for geological continuity from Kempfield North, and define stratigraphic intervals that would host Horizons C and D.

This hypothesis has now been tested and proven.

Hole AKDD195's successful intersection of C Horizon mineralisation was announced on 20 February 2017 - '20 m Intersection Confirms New Kempfield Southeast Zone'.

Similarly, AKDD196 was designed to test for D Horizon mineralisation of the new Kempfield southeast zone, the results of which follow.

About hole AKDD196

AKDD196 successfully tested an extension of D Horizon in Kempfield South, to the east of the C Horizon mineralisation intersected by AKDD195.

Whilst the intersected mineralisation was relatively thin this provided sufficient silver grades to define the area as high potential for further intersections.

Consistent with the predictions of the Kempfield genesis model, the intersected mineralisation appears as a lower temperature variant and is expected to hold high potential for further extensions containing silver, and possibly gold.

Initial samples were selected from 15.0 to 282.0 metres at various intervals and submitted for assay.

The returned results identified a single 5 metre silver mineralisation interval from 256.0 metres (true width 4.1 metres):

- 5.0 m @ 51 g/t Ag from 256.0 m
including: 3.0 m @ 75 g/t Ag from 258.0 m;
including: 1.0 m @ 102 g/t Ag from 258.0 m;

About the new south east mineralisation zone and strike extension potential further to the south

Potential exists along strike to surface and at depth from AKDD196 with a realistic potential for extensions to the Sugarloaf Mine located 800 metres to the south along strike.

The nature of the known strike and lateral continuity of mineralisation and geology supports an extension of 800 metres along strike to an historic mine.

Figure 6 (see the link below) provides a section view of AKDD195 and 196 illustrating the reportable significant intersections and the interpreted host horizons C and D.

SUMMARY

The eight hole drilling programme has provided excellent information for refining the geological model at Kempfield, and for defining the prospectivity of key identified stratigraphic controls on mineralisation.

The key results reported in this announcement are summarised as follows:

- Significant silver, lead and zinc intersected at the Henry Zone - Five separate mineralised intervals with total combined downhole length 45.9 metres intersected by hole AKDD200, including:

16.0 m @ 0.6% Pb, 1.8% Zn, 83 g/t Ag, 0.1 g/t Au from 205.0 m:
including: 7.6 m @ 1.2% Pb, 3.4% Zn (Pb+Zn 4.6%), 126 g/t Ag, 0.2 g/t Au, from 212.4 m;
including: 1.0 m @ 2.2% Pb, 8.3% Zn (Pb+Zn 10.5%), 250 g/t Ag, 0.2 g/t Au from 213.4 m;

- Potential 1,000 metre northeast strike extension identified - Probable mineralisation continuity identified from Kempfield North to the Henry Zone for a potential 1,000 metre northeast strike extension of the main deposit. This is further supported by a 120 metre northeast strike extension identified by hole AKDD194.

- The discovery of extensions to mineralisation in the southeast - Further supported by the intersection of D Horizon mineralisation by hole AKDD196. This underlines the significant potential for further extensions of this new zone potentially 800 metres to the south to combine with known mineralisation at the historic Sugarloaf barite mine, and the Gully Swamp copper mine.

- High grade mineralisation potential in Kempfield West and to the south - The distribution of mineralisation and metal zonation indicates the Kempfield Deposit comprises key exhalative centres focused around rhyolite intrusives that extend periodically along the length of the known deposit, pointing to the potential for high grade mineralisation in the footwall areas of Kempfield (Kempfield West) and the area to the south.

This ASX Report must be read in conjunction with Appendix A and JORC 2012 Table 1 provided in Appendix B (see the link below).

To view tables and figures, please visit:
http://abnnewswire.net/lnk/HF9IU123


About Argent Minerals Limited

Argent Minerals Limited (ASX:ARD)Argent Minerals Limited (ASX:ARD) is an Australian publicly listed company with a 100% interest in a silver/gold project at Kempfield NSW. Work is underway on the preparation of an EIS and a feasibility study for the first stage of the project which will involve heap leaching some 8.8 million tonnes of mainly oxide and transitional material to produce over 9.5 million ounces of silver and 15,000 ounces of gold over a 5 year mine life. Argent is also earning up to a 70% interest in two other NSW projects - gold at West Wyalong and base metals at Sunny Corner.

 


Contact

David Busch
Managing Director
Argent Minerals Limited
M: +61-415-613-800
E: david.busch@argentminerals.com.au



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